In India, the market for health insurance is expanding quickly. According to research, the market is anticipated to grow between 2023 and 2030 at a CAGR of 11.5%. The market is currently estimated to be worth $14.4 billion.
The long-awaited Ayushman Bharat health insurance for senior citizens 70 years of age and older has been introduced by the Indian government. This Ayushman Vaya Vandana (AVV) Cards are now available to all elderly citizens who are above 70.
These senior citizens are entitled for free medical care up to Rs. 5 lakh under the AB-PMJAY (Ayushman Bharat Pradhan Mantri Jan Arogya Yojana). 6 crore elderly persons are eligible, and 4.5 crore households would benefit from this senior citizen coverage.
What are this scheme’s benefits:
Free hospital treatment – Senior citizens 70 years of age and older can use this card for free admission to cashless hospitalisation, guaranteeing they can get necessary medical care without having to worry about the cost.
Eligibility – Any senior citizen 70 years of age or older is entitled for this benefit, regardless of income level. Anyone can participate, regardless of their financial status.
Family coverage – When several elderly people live in the same home, the Rs. 5 lakh coverage (maximum cap limit) can be used by all eligible family members. This indicates that the policy is a shared family policy rather than one that pays Rs. 5 lakh to each senior citizen over 70 years in the family.
Medical procedure Coverage – About 1,929 medical procedures are covered by this Ayushman Bharat scheme, which includes all treatment-related expenses, like as prescription medications, supplies, doctor’s fees, and pre- and post-hospitalization charges like tests and medication.
This guarantees that elderly patients receive full and continuous attention throughout their course of medical treatment. Senior citizens who currently receive benefits from other public health insurance programs, such as the Central Government Health Scheme (CGHS), can choose to enroll in AB-PMJAY or stick with their current plan.
There is no waiting time for any illness or treatment, and beneficiaries can start receiving treatment as soon as they enroll to this scheme.
How can senior citizens enroll to this scheme?
The Ayushman app is available for download on the Google Play Store. To enroll, log in as the beneficiary, provide your mobile number and captcha, and complete the authentication process. One can input their Aadhaar to see if it already exists. The Ayushman Vaya Vandana (AVV) Card may be downloaded after clicking for new enrollment, completing e-KYC, entering the mobile number and Aadhaar OTP for verification, taking a picture of yourself, filling out all other required information, and adding family members who are 70 years of age or older.
How useful is this AVV card?
Due to age and health-related factors, obtaining personal health insurance, especially for older persons, might be difficult. Therefore, for elders, obtaining this AVV card will be important. For people who might not have personal health insurance coverage, this scheme offers the necessary healthcare services. The AVV card can serve as an extra advantage for people who already have health insurance, helping them to pay for any extra healthcare costs that may arise due to critical hospitalisations.
But it’s important to remember that there are certain restrictions to this Ayushman Bharat scheme as well.
These limitations include:
Limited hospital network – Treatment with the AVV card is confined to selected hospitals, which may not provide the same level of accessibility or amenities as the larger hospital network under personal health insurance policies.
Limited authority over policy terms – Relying exclusively on the AVV card may not be adequate for long-term, individualized healthcare requirements because government policies and terms are subject to change.
Hence a family must have a personal health insurance plan apart from this Ayushman Bharat scheme, as there will be a scope for complete protection of the family’s health and welfare.
I have jotted down the key features of this AB-PMJAY scheme here for your ready reference and a recap of the above discussed:
Key features:
- Govt of India has launched the expansion of Health Coverage under AB-PMJAY for citizens of and above 70 years, at a cost of Rs. 3,437 crore.
- Aadhaar is the only document needed for enrolment in the scheme.
- It offers Rs. 5 lakh of free healthcare coverage every year.
- Aadhaar based e-KYC is mandatory.
- Eligible seniors can get cashless treatment at authorised hospitals.
- Regardless of income level, any senior citizen aged 70 years and above is eligible for this benefit. Its open to all, whether from low, middle, or upper-income backgrounds.
- There is no waiting period for any disease or treatment, coverage starts immediately.
- After enrolling the first family member aged 70 or above, one can add other family members above 70 years.
- Beneficiaries of the scheme can begin accessing treatment from the first day of enrolment.
